Asia

SINGAPORE: The Egyptian General Petroleum Corp (EGPC) has issued tenders for a total of 282,000 tonnes of gasoline and gasoil for March delivery, traders said on Tuesday, at a time when the Asian gasoil margin was softer. EGPC was looking to buy up to 72,000 tonnes of gasoil in two cargoes for March 8-10 and March 14-16 delivery to Suez port. It was seeking up to 70,000 tonnes of gasoil in two cargoes for March 13-15 and March 21-23 delivery to Ain Sukhna terminal. It was also looking for up to 35,000 tonnes of gasoil for March 1-3 delivery to Waddi Feiran terminal.The Asian gasoil crack fell 24 cents to $15.78 a barrel, while middle distillates stocks held in Singapore tanks hit a 7-month high of 12.830 million barrels in the week to Feb. 16, official data showed. As for gasoline, EGPC wanted to buy a total of 105,000 tonnes, ...

SINGAPORE: Oil prices edged up in Asia Tuesday following an upbeat outlook by key producer Kuwait, while investors are keeping tabs on Greece's troubled debt talks with its creditors.US benchmark West Texas Intermediate for March delivery rose 44 cents to $53.22, while Brent crude for April gained 68 cents to $62.08 in afternoon trade.Greek Finance Minister Yanis Varoufakis said late Monday he was confident of reaching a deal with the eurozone on overhauling the country's ...

SINGAPORE: The Asia gasoil east-west spread widened on Monday, making it economically viable to ship cargoes from Asia and the Middle East to Europe, traders said.The EFS, or exchange of futures for swaps, fell to minus $21.33 a tonne, Reuters data showed. The arbitrage economics to ship cargoes west start to look workable when EFS is around minus $18 a tonne, though other factors such as shipping costs also play a part, traders said.Unipec continued ...

SINGAPORE: Asian cash premiums for fuel oil were supported by spot demand from South Korea on Monday, traders said, but new regulations could crimp Chinese import demand.Korea East-West Power Co sought a cargo for March on behalf of Ulsan Power Plant. Arbitrage cargoes from the west are expected to be lower in March compared with February.In the longer term, Chinese demand for fuel oil is expected to fall after new regulations on Monday allowed smaller ...

SINGAPORE: The Asia-Pacific crude market was supported by robust demand from refiners boosting purchases to benefit from strong margins, although ample Malaysian and West African supply may weigh. India's ONGC sold 700,000 barrels of Sokol crude loading April 5-11 in a tender at $4.15 a barrel above the Oman/Dubai average, traders said. Last month, ONGC sold Sokol at a premium of $3-$3.20 a barrel, according to Reuters data. Six cargoes of Malaysia's Kimanis grade were ...

SINGAPORE: Petronas has set the price factor for Malaysian Crude Oil (MCO) for February at $4.80 per barrel, down 50 cents from the previous month, the state oil firm said on Monday. Petronas introduced a new official selling price (OSP) for its crude based on a basket of Malaysian crude oil grades Labuan, Miri Light and Kikeh which came into effect in January 2014.Copyright Reuters, 2015 ...

SINGAPORE: The Middle East crude market remained supported on Monday amid solid demand from Asian refiners and concerns over weather-related delays in supply from Iraq.Maersk Oil sold heavy sour al-Shaheen at $0.80-$1 per barrel below Dubai quotes, traders said. Last month, the grade was sold at a discount of $2.64 a barrel on average in a tender by Tasweeq.On Friday, Tasweeq closed a tender to sell three cargoes of April-loading al-Shaheen.The United Arab Emirates' Upper ...